Word: petroleum
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Dates: during 1990-1999
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...also throwing out the textbooks on capitalism to fashion distinctly Ethiopian economic policies. In August his government unveiled a draft program that elicited skeptical grimaces in the West. While the plan opens up road transport and retail trade to private capital, it also maintains government control of the petroleum, mining and chemical industries. Even less encouraging to potential aid donors, who want to see evidence that capitalist inclinations have buried socialist leanings for good, private ownership of land is still forbidden. Meles regards this as critical to protecting the interests of the poor peasant farmers who constitute almost...
Harken's biggest flaw as a would-be Big Oil Company was its lack of a refinery. In 1989 Quasha made a $190 million bid for a publicly held refinery, Tesoro Petroleum. Tesoro never had any interest in merging -- its board wouldn't even respond directly to the offer -- nor did Quasha have any interest in carrying out a hostile bid. The debacle wound up costing Harken millions of dollars in expenses. The only party to make out handsomely was Quasha himself; his law firm has collected more than $1 million in fees since + 1988 by handling these and other...
...issued safety guidelines, OSHA has begun adopting them wholesale -- though critics complain it too often approves rules drawn up by the industries it is supposed to supervise. Scannell has also brought eye- catching fines against offenders, including $3.5 million against Arco Chemical and a record $4 million against Phillips Petroleum, after giant explosions at their plants left 40 dead. The agency "is more effective today than it has been in any time in its history," insists Alan McMillan, Deputy Assistant Secretary of Labor for occupational safety and health...
...testimony, much of it bitter, went this month before the Senate environment and public-works subcommittee on toxic substances. Dallas petroleum consultant Tom Latimer, 36, testified that he used the widely sold insecticide diazinon six years ago to control grubs eating grass roots at the same time that he was taking the drug Tagamet to control warts. Neither chemical came with a warning of dangerous interaction, but the impact of diazinon, an organophosphate that inhibits nerve action, was apparently magnified by the Tagamet. Today his eyesight remains severely damaged; he has constant headaches; his memory, concentration and mental acuity...
Curbing the toxic cloud does not come cheap. The oil facility's shutdown will cost $500 million, put more than 5,000 people out of work, and require Mexico to import, at least temporarily, some refined petroleum. But even this dramatic move represents only a beginning. Three-quarters of Mexico City's air pollution comes from the capital's antiquated fleet of 15,000 smoke-belching buses, 40,000 taxis and almost 3 million automobiles. Already the government has revamped 3,500 buses with new, less polluting engines. Last week President Salinas announced a $1.3 million program to replace outmoded...